2000年真题

FECT初级2000年考题及答案ReadingPartTwoSectionOne(10%)Direction：Therearetenstatementsinthissection.ForeachstatementtherearefourchoicesmarkedA,B,C,andD.YoushouldchoosethebestanswerandmarkthecorrespondingletterontheANSWERSHEETbydrawingasinglelinethroughthecenter.31.SinceApril1994,theRMBexchangeratehasbeendeterminedby__________.A.theChinaforeignExchangeTradingSystemB.thePeople’sBankofChinaC.supplyanddemandaswellastradingsituationsintheChinaForeignExchangeSwapMarketD.supplyanddemandaswellastradingsituationsintheunifiedinterbankforeignexchangemarket32.Ifnearmoneyistobeuseddirectlytopurchasegoodsorservices,itmustbe________.A.permittedbythebusinesscompanyB.endorsedbytheholderC.drawnfromabankfirstD.convertedintocashorsightdeposit33.Whichofthefollowingisnotoneofthefunctionofmoney?A.MediumofexchangeB.StoreofvalueC.FinancialassetsD.Standardfordeferredpayment34.Unlessotherwisestatedintheletterofcredit,bankswillnotaccept_________presentedbythebeneficiary.A.theopencoverB.thecovernoteC.theinsurancecertificateD.theinsurancepolicy35.Factoringprovidesthefollowingservicesexcept_____________.A.maintenanceofthesalesledgerB.collectionofaccountsreceivableC.100%non-recoursefinancetothesellerdespitecommercialdisputesbetweenthesellerandthebuyerD.creditriskprotectiononthebuyer36.Whentheexportedgoodsareinsuredunderanopencoveragreement,_______isthemostappropriatedocumentasevidenceofinsurance.A.anopenpolicyB.aninsurancecertificateC.aninsurancepolicyD.aninspectioncertificate37.Advancestotheimportercanbegiveninthefollowingwaysexcept__________.A.limitsforissuinglettersofcreditB.inwardbillsreceivableC.packingloansD.deliveryagainstthebankguarantee38.Asfarasthebeneficiaryisconcernedtheletterofcreditwhichisavailableby_________istheleastfavourable.A.negotiationB.acceptanceC.sightpaymentD.deferredpayment39.Deposits,takenwithintheterritoryofthePeople’srepublicofChinabyaforeignfinancialinstitutionshallnotexceed_______percentofitstotalassets.A.20B.30C.40D.6040.“PayChenRMB10,000onthedateofhismarriage.”Thisis__________.A.abillofexchangeB.achequeC.apromissorynoteD.anorderSectionTwo(10%)Directions：thereare10blanksinthefollowingpassages.ForeachblanktherearefourchoicesmarkedA,B,CandD.YoushouldchoosethebestanswerandmarkthecorrespondingletterontheANSWERSHEETbydrawingasinglelinethroughthecenter.PassageOneCommercialbanksarebusinessfirms;likeallfirms,theystrivetoearnaprofit.Theobjectofcommercialbankmanagementisthereforeto___41___profitswhilemaintainingaverylowriskofbecoming___42____.Toremainsolvent,acommercialbankmusttakeprecautionstoensurethatthevalueofitsassets___43____thevalueofitsliabilitiesatalltimes.Ifatanytimelossesfromsecurities,___44___loans,orotherinvestmentsforcethevalueofthebank’sassets____45___thevalueofitsliabilities,thebankbecomesinsolvent.41.A.minimizeB.maximizeC.controlD.manage42.AinsolventB.solventC.defaultD.liquidation43.AequalsBcontractsCexceedsDlags44.AfaultBdefaultedCliquidDspeculated45.AaboveBunderCbeyondDbelowPassageTwoIntheforeignexchangemarket,whichismadeupofbanks’tradersandbrokers,prices____46_____everyminute___47____tosupplyanddemand.Forsafety’ssake,abranchwillgetaratefromtheirtradersforabigtransaction.Thisprocesswouldbetoocumbersome,however,foreverysmalltransaction.Thereforethetradersgivetheirbrancheslistsofexchangerates_____48_____theymaybuyandsellnotesandpaymentsinthemaincurrencies.WheneverabankinBritainmakesapaymentinforeigncurrency,ormakesapaymentinsterlingtoanon-resident,thepaymenthasfirstto___49__underBritishexchangecontrolregulations.Thebankitselfcanusuallyauthorizethepaymentafterseeingadocumentsuchasaninvoicetoshowthatthepaymentisdue;butcases___50___borrowingandlendinghavetobereferredtotheBankofEngland.46.AalterBvaryCturnDconvert47.AinresponseBrespondentCrespondingDanswering48.AofwhichBonwhichCinwhichDatwhich49.AauthorizingBauthorizeCbeauthorizedDhavebeenauthorized50.AinvolvingBinvolveCwillinvolveDbeinginvolvedSectionThree(10%)Directions：Readthefollowingpassages,anddeterminewhetherthesentencesare“Right”or“Wrong”.Ifthereisnotenoughinformationtoanswer“Right”or“Wrong”,choose“Doesn’tsay”.ThenmarkthecorrespondingletterontheANSWERSHEETbydrawingasinglelinethroughthecenter.Passage1Liquidityisameasureofhowquicklyanitemmaybeconvertedtocash.Therefore,cashisthemostliquidasset.Accountreceivableisarelativelyliquidassetbecausethebusinessexpectstocollecttheamountincashinthenearfuture.Suppliesarelessliquidthanaccountsreceivable.Usersoffinancialstatementsareinterestedinliquiditybecausebusinessdifficultiesoftenariseowingtoshortageofcash.Howquicklycanthebusinessconvertanassettocashandpayadebt?Howsoonmustaliabilitybepaid?Thesearequestionsofliquidity.51.Long-termassetsareallassetsotherthancurrentassets.ArightBwrongCDoesn’tsay52.Suppliesarelessliquidthanaccountsreceivable,andfurnitureandbuildingsareevenlessso.ARightBWrongCDoesn’t53.Peopleareinterestedinliabilitiesonthebalancesheetbecauseitisrelativelyliquid.ARightBwrongCDoesn’tsayPassage2Whereasthemoneymarketsprovideveryshort-termloans,thecapitalmarkettakesaccountofmediumandlong-termloans.Itservestheneed